Rostneftegas Geo buys 3 gas sections in Rostov Region
ROSTOV-ON-DON. Nov 29 (Interfax) - Moscow-based CJSC Rostneftegas Geo has been declared the winner of auctions for the right to do geological surveys, prospecting, and gas production at the Severo-Donsky, Yuzhno-Donsky, and Gashunsky gas sections in Rostov Region.
An Interfax correspondent present for the auction at the Southern Federal District subsurface resource usage department (Yugnedra) reported that the company offered the top one-off payment - 160,000 rubles - for the resource usage rights at the Gashunsky section (starting price 100,000 rubles).
Rostneftegas Geo offered 102,000 rubles (starting price 60,000 rubles for the Yuzhno-Donsky resource usage rights and 176,000 rubles (110,000 rubles) for Severo-Donsky rights.
Yug Geo LLC also took part in the auctions.
A Yugnedra representative explained that the auction winner will receive licensing for 25 years in a month's time after confirmation of the auction results.
Predicted D1 gas reserves at Severo-Donsky amount to 2.2 billion cubic meters (bcm), at Yuzhno-Donsky to 0.4 bcm, and at Gashunsky to 1.8 bcm.
According to the SPARK database, Rostneftegas Geo is involved in geological prospecting, geophysical and geochemical work in the study of Rostov Region resources and replenishment of its mineral and primary raw materials base. As of end-April 2010, the company's General Director Nikolai Kizub owned 100% of company charter capital.